The US migration to EMV is failing to gain momentum, with just one in 10 people receiving EMV cards, according to a new poll from GfK Public Affairs.
Although the US accounted for almost half of all gross fraud losses worldwide on plastic cards in 2014, only about 10% of US consumers have received a new EMV credit or debit card in the mail in the last few months. Of those that have received a chip card, 30% say they do not know how to use it and just 35% have used it in a chip card reader.
In the wake of a series of recent massive, high profile data breaches at the likes of Target and Home Depot, the poll shows that US consumers are worried about retailers’ ability to keep their data safe. Nearly 40% of respondents are extremely or very concerned about their personal information’s security when making instore purchases, rising to 45% for online shopping.
Yet 46% say they do not really understand the reason for introducing chip cards and 22% are not confident that the move will improve payments security.
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